News Agency of Nigeria
Business , Economy/Business

NSE resumes March with N69bn growth amid uptick in BUA Cement

By Chinyere Joel-Nwokeoma

Activities on the Nigerian Stock Exchange (NSE) commenced the week and month on Monday on a bullish trend, following uptick in BUA Cement, Zenith Bank and UBA.

Specifically, the market capitalisation increased by N65 billion or 0.33 per cent to close at N20.892 trillion from N20.823 trillion posted on Friday.

Also, the NSE All-Share Index which opened the month of March at 39,799.89 rose by 131.74 points or 0.33 per cent to close at 39,931.63.

Consequently, the month-to-date return settled at 0.3 per cent , while the year-to-date loss moderated to 0.8 per cent.

The uptrend was also driven by price appreciation in medium and large capitalised stocks amongst which are; UACN, AIICO Insurance, Veritas Kapital Assurance, BUA Cement and Neimeth International Pharmaceuticals.

Analysts at Afrinvest expected that earnings released and dividends declaration would influence trading activity in spite of weak investor sentiment.

UACN dominated the gainers’ chart in percentage terms with 6.67 per cent to close at N8 per share.

AIICO Insurance followed with 5.22 per cent to close at N1.21, while Veritas Kapital Assurance rose by five per cent to close at 21k per share.

BUA Cement rose by 3.82 per cent to close at N74.75, while Neimeth International Pharmaceuticals appreciated by 2.73 per cent to close at N1.88 per share.

On the other hand, NASCON led the losers’ chart in percentage terms, losing 9.97 per cent to close at N14.45 per share.

Champion Breweries followed with 9.92 per cent to close at N2.27, while PZ Cussons shed 9.43 per cent to close at N4.80 per share.

Lasaco Assurance lost 8.94 per cent to close at N1.12, while Royal Exchange and Sovereign Trust Insurance depreciated by 7.41 per cent each to close at 25k per share each.

Also, the total volume of trades increased by 7.2 per cent to 543.99 million shares valued at N1.89 billion exchanged in 4,673 deals.

This was in contrast with a total of 507.25 million shares worth N2.44 billion traded in 4,465 deals on Friday.

Transactions in the shares of Wema Bank topped the activity chart with 369.68 million shares valued at N240.32 million.

Zenith Bank followed with 20.62 million shares worth N529.07 million, while Transcorp traded 13.02 million shares worth N11.48 million.

UBA traded 11.93 million shares valued at N98.65 million, while United Capital transacted 11.33 million shares worth N69.19 million. (NAN)

General News

Buhari receives briefing on Zamfara schoolgirls’ abduction

By Ismaila Chafe

Leader of the Federal Government delegation to sympathise with the people and government of Zamfara over kidnapped Jangebe schoolgirls, Hadi Sirika, has briefed President Muhammadu Buhari on the outcome of their mission to the state.

Speaking to State House correspondents after a closed door meeting with the president on Monday in Abuja, Sirika, who is also the Minister of Aviation, expressed optimism that the abducted female students of Government Girls Science Secondary School, Jangebe, would soon be freed from their abductors.

According to him, the government and people of Zamfara have expressed satisfaction with the efforts of the federal government toward addressing the menace of banditry and kidnapping in the state.

Sirika said: “Well, the message we’ve brought back to the President is that the government and people of Zamfara are very appreciative of the efforts of Mr President, including all of the things that the President had done towards Zamfara.

“The governor also said he has an unfettered access to Mr President and Mr President has always given him a listening ear, and they have helped him in so many ways in reaching a peaceful coexistence with his people.

“So he’s very glad and he’s very happy. He asked us to greet Mr President and tell Mr President that he should count him as a partner in this challenge.’’

The News Agency of Nigeria (NAN) reports that Sirika had on Sunday delivered Buhari’s message to the people and government of Zamfara.

He said new measures had been developed by the federal government which would bring complete end to all forms of criminality in the nation.

“The President is saddened by the abduction of the students from Jangebe and reassures you that the government has all the resources and wherewithal to contain these criminals.’’

Other members of the delegation were the Minister of Police Affairs, Alhaji Maigari Dingyadi; Minister of Humanitarian Affairs and Disaster Management, Hajiya Sa’adiya Umar-Faruk; and Minister of Women Affairs, Mrs Pauline Tallen. (NAN)

General News

Osinbajo tasks NIPSS on failed policies, projects

By Chijioke Okoronkwo

Vice President Yemi Osinbajo has urged the National Institute for Policy and Strategic Studies (NIPSS) to unlock the mystery of failed or poorly implemented policies and projects in Nigeria.

Osinbajo’s spokesman, Laolu Akande, in statement on Monday in Abuja, said that the vice president stated this when he virtually inaugurated the Senior Executive Course 43 of NIPSS.

The theme of the Course 43 programme is “Getting Things Done: Strategies for the Implementation of Policies and Programmes in Nigeria.’’

“So, your task is already well cut out for you. Perhaps Course 43 will be able to unlock the mystery of failed or poorly implemented policies and projects, but more importantly, promote a practical, nitty-gritty guide to implementing projects and policies.

“This is a body of knowledge that is desperately needed today. This year’s theme goes to the heart of what is generally considered the bane of development in Nigeria; poor implementation.

“The proverbial gap between intention and results; between policy and stated outcomes; delivering on campaign promises or even just doing what the well-articulated policy papers say.

“For many serious-minded policymakers, the frustration is the same, yes we know all about think-tanks, what we need now are do-tanks.”

Osinbajo commended the commitment and contributions of NIPSS to critical national issues through policy briefs, policy advice and other strategic interventions.

He assured staff, participants and management of the Federal Government’s continued support to the institution especially in the upgrade of facilities.

“While Government will continue to do its best to support the National Institute, I should stress that budgetary provisions alone will always be limited given competing needs and responsibilities of government.

“It is therefore imperative for NIPSS to be even more pro-active and creative in seeking alternative sources of funding,’’ he said.

Osinbajo commiserated with the management and staff of NIPSS on the demise of its Director-General, Prof. Habu Galadima.

He recalled the late Galadima’s work and dedication particularly to the growth of the institute, describing him as a passionate advocate for the transformation of the Institute.

Participants of Senior Executive Course 43 were drawn from the private sector, the public service, including paramilitary organisations and the armed forces.

Present at the event were Plateau State Governor, Mr Simon Lalong, representatives of the Service Chiefs, among others. (NAN)

Defence/Security

New NSCDC boss plans to establish women corps

By Kelechi Ogunleye

Dr Ahmed Audi, the newly decorated Commandant-General (CG) of the Nigeria Security and Civil Defence Corps (NSCDC), has formally assumed office with a plan to establish a women corps.

He said the planned women corps would help to stem the tide of insecurity in the country.

Audi, who spoke at the national headquarters of the corps shortly after taking over from Acting Commandant-General Hillary Madu, also hinted of his plan to fortify the Agro-Rangers Unit of the NSCDC.

The CG said that the women corps would compete favourably with its male counterpart in training, tactics and efficiency in service delivery.

“The Agro-Rangers Unit, which is the latest addition to the mandate of the corps, will also be repackaged and re-branded. We shall fortify the rangers with adequate training and re-training programmes.

“This is to key into the agenda of President Muhammadu Buhari to ensure food security and banish hunger in the country by protecting and securing farmers and their investments from incessant attacks by bandits, cattle rustlers, terrorists and other criminal elements,’’ he said.

Audi said he would maintain a high ethical standard so as to bring about transformational leadership which would rid the corps of impunity.

“Without accountability, transparency, and good leadership, it would be difficult for any organisation to achieve its full potential as a thriving force with values and work ethos.

Audi said that his administration would ensure discipline and regimentation, transparent and judicious use of funds, accountability and probity in the management of men and resources in line with global best practices.

He, however, appealed to all officers and men to key into the various action plans by cooperating to move the corps forward.

“I charge you all to make sure that as security personnel, you do not compromise our values and integrity but ensure you work assiduously as patriotic citizens and ambassadors of excellence wherever you are deployed to serve.

“My leadership shall uphold the tenets of meritocracy over and above any ethnic, religious, cultural or emotional affiliations.

“Hence, we shall review our methods and system of conducting promotion exercises for personnel and ensure we correct all anomalies and imbalances in order to continue to motivate and strengthen the morale of our productive workforce.

“I shall surround myself with a team of experts in their chosen endeavours, professionals in various fields and a think-tank that will spearhead the digitalisation process of the corps,” he stated.

The outgoing Acting Commandant-General Madu urged the personnel to support the new CG, stating that Audi was armed with age and experience. (NAN)

Health

No COVID-19 vaccines for under-18 – PTF

By Abujah Racheal

The Presidential Task Force (PTF) on COVID-19 has said that Nigerians under the age of 18 years will not receive the COVID-19 vaccines in the country.

The Minister of State for Health, Dr Olorunnimbe Mamora, said that the Federal Government planned to cover 70 per cent of Nigerians within two years.

Mamora warned that private organisations were not permitted to procure, distribute and administer the coronavirus vaccines.

To ensure a smooth management of the four million vaccines arriving on Tuesday, Mamora said the PTF had approved the TEACH strategy and the electronic management immunisation system.

He said that the strategy called TEACH approach harnesses all the benefits of traditional, electronic, assisted and concomitant house-to-house registration to optimise the use of innovative technology.

Mamora said that the TEACH approach entails traditional method of vaccinating target populations using desk review of available data sources, identifying the vaccination sites and roll out.

He described the strategy as innovative to ensure a smooth rollout so that no one was left behind.

Mamora warned against private importation of vaccines and emphasised that only the National Primary Health Care Development Agency would import and manage vaccines until further notice. (NAN)

Business , Economy/Business

NSE total transactions drop by 13.66% in January

By Chinyere Joel-Nwokeoma

The total transactions at the Nigerian Stock Exchange (NSE) dropped by 13.66 per cent in January, the News Agency of Nigeria (NAN) reports.

The NSE monthly domestic and foreign portfolio investment (FPI) flows obtained NAN on Monday shows that total transactions stood at N232.46 billion (about 590.82 million dollars) in January.

This was in contrast with N269.24 billion (about $687.06 million) recorded in December.

The performance of January 2021 when compared to the performance in January 2020 (N235.46billion) revealed that total transactions decreased marginally by 1.27 per cent.

In January 2021, the total value of transactions executed by domestic investors outperformed transactions executed by foreign investors by circa 60 per cent.

A further analysis of the total transactions executed between January 2021 and the prior month (December 2020) revealed that total domestic transactions decreased by 7.21 per cent from N199.32 billion in December to N184.94 billion in January 2021.

Similarly, total foreign transactions decreased by 32.04 per cent from N69.92billion in December (about $178.44 million) to N47.52 billion (about $120.78million) in January 2021.

A comparison of domestic transactions revealed that retail transactions increased by 10.16 per cent from N61.22 billion in December 2020 to N67.44 billion in January 2021.

The institutional composition of the domestic market also decreased by 14.91 per cent from N138.09 billion in December 2020 to N117.50 billion in January 2021.

Over 14 year period, domestic transactions decreased by 59.54 per cent from N3.56 trillion in 2007 to N1.44 trillion in 2020, whilst foreign transactions increased by 18.45 per cent from N616 billion to N729 billion over the same period.

Total domestic transactions accounted for about 74 per cent of the total transactions carried out in 2020, whilst foreign transactions accounted for about 26 per cent of the total transactions in the same period.

The transaction data for January 2021 shows that total foreign transactions was circa N47.52billion, whilst total domestic transactions was circa N184.94 billion. (NAN)

General News

Gov. Diri expresses joy over return of peace to Nembe-Basambiri

By Shedrack Frank
Gov. Douye Diri of Bayelsa has expressed joy over the return of peace to the Nembe-Basambiri community in the state.
Diri made the commendation after making a surprise visit to Nembe-Bassambiri, in Nembe Local Government Area. for the first time since he assumed office on February 14, 2020.
Nembe was the scene of a vicious shooting incident on November 13, 2019, when governor Diri, and his Peoples Democratic Party (PDP) supporters visited to campaign for the November 16, 2019, governorship election, according to a statement issued to the News Agency of Nigeria (NAN) on Monday by the Chief Press Secretary to the Governor, Mr Daniel Alabrah.
A report by the judicial panel of inquiry, set up by the state government on the incident, revealed that scores of persons were reportedly missing and several others sustained serious injuries as a result of the attack.
Diri, who was received by the Chiefs and their excited subjects, thanked the people for the warm reception despite the short notice of the visit.
He said the ancient kingdom of Nembe should be the light and peace of Bayelsa.
The governor urged Nembe leaders and people to ensure that the prevailing peace and reconciliation are sustained, stressing that development can only thrive in an atmosphere of peace and security.
While commending the leaders for the steps taken so far, he implored them to do more, assuring that the government will support efforts to deepen the peace in the area.
He said: “As the chairman of the council of chiefs noted, peace has returned to Nembe. Truly, love has returned, and for me there should not have been any other project more important than peace in Nembe.
“Nembe should be the light of Bayelsa. It should be the peace and love of Bayelsa. For us as a government, we are ready to work with the leaders of Nembe to ensure peace because it is only when there is peace that there can be development.”
Earlier, the chairman of the Council of Chiefs, Chief Oriango Oruwari, thanked the governor for the visit and appreciated him for the role he played to ensure that peace returned to the community.
Oruwari also expressed appreciation to the governor for appointing sons and daughters of Nembe into positions of trust and appealed to him to do more for Nembe. (NAN)
Business , Defence/Security , Economy/Business

Aregbesola inaugurates 105 rooms hotel for correctional service

By Sumaila Ogbaje

The Minister of Interior, Ogbeni Rauf Aregbesola, has inaugurated a 105-room hotel, an investment of the Correctional Service Multi-Purpose Co-operative Society (COCOS) of the Nigerian Correctional Service (NCoS) in Abuja on Monday.

The News Agency of Nigeria (NAN) reports that the hotel is located at the NCoS Headquarters premises, Bill Clinton Drive, Airport Road, Abuja.

Aregbesola at the inauguration said that the facility was a product of strategic thinking and efficiency on the part of the leadership of the correctional service.

He said that the strategic location of the hotel close to the airport would provide proximate accommodation to travelers for local and international flights.

According to him, for a very critical organ of government like NCoS, any effort to boost the morale of personnel is commendable and also a step in the right direction.

He commended the initiators of the co-operative society for making it a sustainable financial support base for officers and men of the correctional service.

“More so, COCOS has remained relevant in bringing the government’s philosophy of personnel welfare, to reality.

“The Federal Government under President Muhammadu Buhari’s commitment to strengthening public institutions can hardly be attained without adequate staff welfare.

“It is particularly gratifying to note that COCOS has not only remained viable in providing financial succor to staff, but has stepped up to become an enviable enterprise capable of providing more dividends to all members.

“Classical economists tell us that the path to economic development is through savings and investment,” he said.

Aregbesola commended the personnel for their commitment to saving, adding that saving required personal financial discipline and sacrifice since public sector workers hardly had surplus income.

He added that savings energised the financial system while investment expands the economy, provides jobs and boosts government revenue, thereby enabling the government to perform its duties to the people.

The minister advised that the management of the facility be left in the hands of a professional manager to ensure that it would be found attractive by anyone needing the serenity and quietude of the countryside.

He also commended the immediate past Controller General of Corrections, Ja’afaru Ahmed, for conceiving and nurturing the project to fruition.

Speaking, Acting Controller General of Corrections John Mrabure said that the cooperative society was established primarily to serve as frontline support that would provide financial succor to personnel of NCoS.

Mrabure said the cooperative had lived up to its bidding, adding value to the lives of serving, retired and deceased personnel through prudent and efficient management of pooled resources.

He said it was in a bid to further guarantee the buoyancy of the corporative and give members more value for their money that the idea of investing in the hospitality industry was considered.

According to him, this profitable innovation was championed by the immediate past Controller General of Corrections Ahmed, whose disposition throughout the journey to where clearly demonstrates his passion for the welfare of staff.

“The magnificent edifice you see today began sometime in April 2020 and it has 105 rooms of different specifications, with the basic features of a standard hotel, poised to deliver excellent hospitality services,” he said.

In his goodwill message, the Comptroller Gen of Nigeria Immigration Service, Mohammad Babandede, commended the initiative of the COCOS to come up with such a magnificent project, saying it was a challenge for other cooperatives to learn from.

Babandede said that the Immigration cooperative society had learnt something from the initiative of the correctional multipurpose cooperative. (NAN)

Aviation

Ibom Air lifts 500,000 passengers in 21 months – Official

Isaiah Eka
The Ibom Air, an Akwa Ibom owned airline on Monday said it had so far  lifted  no fewer than 500,000 passengers since commencement of operations on June 7, 2019.
This is contained in a statement issued  by Mrs Anniekan Essienette, the Group Manager Marketing and Communication, Ibom Airlines Limited, in Uyo.
Essienette quoted the Chief Operating Officer, Mr  George Uriesi, as saying this while the organisation marked the milestone achievement.
 
She said that Ibom Air had quickly established a reputation for on-time performance and excellent service in the nation’s aviation industry.
“We are very pleased to record this key milestone of 500,000 passengers.
 
“We are most thankful to our customers for believing in us and continuing to rely on our unique proposition of schedule reliability, on-time departures and excellent service. 
“As we continue to grow apace, we are determined to continue to deliver on our customers now very high expectations.
“It is the only domestic Airline in Nigeria that publishes its schedule reliability and on-time performance statistics monthly.
“The airline has consistently maintained above 90 per cent performance since inception. It operates daily flights between Uyo, Lagos, Abuja, Calabar and Enugu,” she said.
She regretted that the company would have clocked this number around November 2020, but for the three and a half months COVID-19 lockdown.
Essienette, however, declared that the milestone was an indication of steady customer uptake and validation of services. (NAN)
General News

Marwa urges support of traditional, religious leaders in fight against drug abuse

By Ibrahim Kado

The National Drugs Law Enforcement Agency (NDLEA) has called for the support of traditional and religious leaders in the fight against drug abuse in Nigeria.

The NDLEA Chairman, Retired Brig.-Gen. Buba Marwa, made the call during his visit to the Lamido of Adamawa, Muslim Council and Christian Association of Nigeria (CAN) in Yola on Monday.

He said the traditional and religious leaders had a vital role to play in the fight against drug abuse in the state and the country at large.

He advised the religious leaders to put in more efforts and the traditional rulers to form a committee in their respective communities to fight drug abuse.

According to him, President Muhammad Buhari is committed to fighting poverty and unemployment, which is key to drug abuse by the youth.

He said the Agency was currently doing everything possible to ensure there was no drug available for the youth to take.

Muhammadu Barkindo, Lamido of Adamawa, expressed the readiness of the the traditional rulers to support the agency in the fight against drug abuse.

Barkindo, who was represented by Alhaji Mustapha Aminu, the Galadima of Adamawa commended the president for the appointment of Marwa as chairman of NDLEA.

“We as Adamawa State Council of traditional rulers assure you of our 100 per cent support in the fight against drug abuse and we wish you more successes in the course of discharging your responsibility,” he said.

In their separate remarks, Malam Gambo Jika and Stephen Mamza State Chairmen Muslim Council and CAN pledged to support and cooperate with the NDLEA to ensure its success in the fight against drug abuse.

The News Agency of Nigeria (NAN) reports that both religious leaders assured they would propagate the fight against drug. (NAN)

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